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23:58 GMT +3 hours18 December 2014
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Russia

Russia to Lead on Investment Climate Putin

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Russia will aim for a place among the world’s top 20 countries on investment attractiveness, President Vladimir Putin said on Friday.

Russia will aim for a place among the world’s top 20 countries on investment attractiveness, President Vladimir Putin said on Friday.

To that end, government has drafted a road map to improve investment climate, enlisting the help of the Russian business community, Putin said, speaking at the APEC summit in city of Vladivostok in the Russian Far East.

The road map envisages decreasing administrative barriers and improving customs operations, among other things, Putin said. He refused to provide further details.

Russia ranked 120th among 183 countries in this year’s edition of the Doing Business rating compiled by the World Bank. APEC countries account for 10 of the top 20 slots in the rating, which is topped by founding bloc member Singapore.